If the price of Pepsi increases, then there will be ___ of Pepsi.
a. An increase in the quantity demanded
b. a decrease in the quantity demanded
c. a decrease in the demand
d. an increase in the demand
Ans: b. a decrease in the quantity demanded
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The rule of 70 is most useful in
What will be an ideal response?
A market served by only one firm is called a(n):
A. perfectly competitive market. B. monopoly. C. oligopoly. D. Any of these could be correct.
Advertising serves no productive purpose and is thus welfare decreasing.
Answer the following statement true (T) or false (F)
Health insurance companies often charge high premiums because ________
A) they expect to attract high-risk individuals B) they expect to attract risk-averse individuals C) they expect to attract low-income individuals D) they expect to attract risk-neutral individuals